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Social Media in Banking. A Managerial Perception from Mexico

Author

Listed:
  • Doina DĂNĂIAŢĂ

    (Faculty of Economics and Business Administration, West University of Timisoara, Romania)

  • Camelia MARGEA

    (Faculty of Economics and Business Administration, West University of Timisoara, Romania)

  • Kristine KIRAKOSYAN

    (Faculty of Economics and Business Administration, West University of Timisoara, Romania)

  • Ana-Maria NEGOVAN

    (Faculty of Economics and Business Administration, West University of Timisoara, Romania)

Abstract
Nowadays social media has a radical impact on the business world, becoming a great customer service tool across many industries. And banking is no exception. Thus, banks managers need to identify ways to make profitable use of the social media. By accepting the benefits and developing their presence in social media, banks will be closer to customers. The objective of our research is to study social media usage in the banking industry and to obtain a managerial view concerning barriers and challenges in the social media implementation process. From the research of the literature in the field, we observed that Social media was studied a lot from the customers’ point of view, but there are not many studies on social media from a managerial point of view. This article presents a part of our research results regarding social media usage in banking in different regions of the world, specifically, the Mexican banking sector. We conducted a qualitative research based on interviews carried on among 20 banks from Mexico. The goal was to see how the decision factors in banks perceive the social media usage for their institution and for the banking industry, in general. The study focuses on the barriers and challenges raised by the existence and usage of social media platforms. The findings revealed an important presence of the Mexican bank industry in social media areas, but with a lot of room for extending the banks’ presence in new Social Media platforms, and different degrees regarding the perception of barriers and challenges in adopting Social Media tools.

Suggested Citation

  • Doina DĂNĂIAŢĂ & Camelia MARGEA & Kristine KIRAKOSYAN & Ana-Maria NEGOVAN, 2014. "Social Media in Banking. A Managerial Perception from Mexico," Timisoara Journal of Economics and Business, West University of Timisoara, Romania, Faculty of Economics and Business Administration, vol. 7(2), pages 147-174, December.
    • Handle: RePEc:wun:timjeb:tjeb:v07:y2014:i02:a04
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    References listed on IDEAS

    as
    1. Kristine KIRAKOSYAN, 2014. "Managerial Perspective on Social Media Implementation in Banking Industry. Comparative Study on Romanian and Mexican Banks," REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 15(3), pages 297-311, July.
    2. Kristine KIRAKOSYAN, 2014. "The Managerial View Of Social Media Usage In Banking Industry:Case Study For Romanian Banking System," Proceedings of the INTERNATIONAL MANAGEMENT CONFERENCE, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 8(1), pages 225-241, November.
    3. Paul C. Tetlock & Maytal Saar‐Tsechansky & Sofus Macskassy, 2008. "More Than Words: Quantifying Language to Measure Firms' Fundamentals," Journal of Finance, American Finance Association, vol. 63(3), pages 1437-1467, June.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. R.M. Mahboub, 2018. "The Impact of Social Media Usage on Performance of the Banking Sector in Middle East and North Africa Countries," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(3), pages 3-20.
    2. repec:ers:journl:v:vi:y:2018:i:3:p:3-20 is not listed on IDEAS
    3. repec:ers:journl:v:volumevi:y:2018:i:issue3:p:3-20 is not listed on IDEAS

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    More about this item

    Keywords

    social media; banking industry; barriers; challenges.;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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